Gold has traded between $1,121 and $1,135 so far today…as of 8:15 am Pacific, bullion is down $10 an ounce at $1,124…Silver is relatively flat at $14.66…Copper has climbed 6 cents to $2.38…Crude Oil has jumped $1.61 a barrel to $47.86 while the U.S. Dollar Index has shot up two-thirds of a point to 96.58 thanks to weakness in the euro following today’s ECB meeting…
It might just be time to take a contrarian approach with commodities, says one UK-based research firm, especially because concerns over Chinaâs economy may be “overdone“, they say.  âSome improvement in confidence was already seen towards the end of last month, with Oil prices in particular snapping back. Better news from China should therefore allow the prices of key industrials to recover further over the rest of the year,â said analysts from Capital Economics in a research note yesterday. âAs prospects are surely not that bad, this may be a good time to take a contrarian view, especially as investor sentiment towards commodities has deteriorated even further,â they added.
Interesting comments this morning from ace mining sector writer Kip Kean in an article (“The Ichan Bottom“) regarding Carl Ichan’s move last week to acquire a significant stake in Freeport-McMoran Inc. (FCX, NYSE) which has surged 25% since then…
“Carl Icahnâs move into Freeport-McMoRan puts the shine on the mining sector as a bottom-fishing opportunity. Itâs a theme thatâs done the Internet and media rounds. Indeed, itâs hard not to cast the impending activism on Freeport as such a sign. That is, a sign of a savvy investor locating prey in a suffering sector.”
Check out the rest of Kip’s article at Mineweb.com…
Ichan is among a growing number of opportunistic individuals and companies who are acquiring, or attempting to acquire, beaten-down assets in the mining sector…the Financial Post highlighted this morning how First Mining Finance (FF, TSX-V) CEO Keith Neumeyer continues to snap up promising assets after this week’s announcement of a 3-way deal wherein it will buy Gold Canyon Resources (GCU, TSX-V) and PC Gold (PKL, TSX-V) for a total of about $66 million in stock…First Mining only went public in April, but it sees this as the ideal time to buy junior mining assets on the cheap…FF president Pat Donnelly stated, “We don’t want the market to turn around soon, because we really want to load up on assets. And so the longer this bear market continues, the better for us.”
IMF On Global Growth Risks
The International Monetary Fund said yesterday that the moderate global growth in the 1st half of the year is reflective of two elements – a slowdown in emerging economies, and weak recovery in advanced ones. “In an environment of rising financial market volatility, declining commodity prices, weaker capital inflows and depreciating emerging market currencies, downside risks to the outlook have risen, particularly for emerging markets and developing economies,” the IMF stated in its report…
37 B.C. First Nations Miss Deadline To File Financial Statements
The Vancouver Sun reports that 37 First Nations in B.C. could lose a portion of their federal funding after they missed the deadline to file financial statements, according to Aboriginal Affairs Canada…many of them said yesterday they were scrambling to gather all their financial data and had asked the federal government for an extension on filing their audited financial accounts…Aboriginal Affairs says 581 First Nations across Canada had until midnight Tuesday to file their financial information – including salaries and expenses of band members – under the First Nations Financial Transparency Act. as of Wednesday morning…a total of 191 – or just under one-third – had failed to do so…
âAll Canadians, including First Nations, want and deserve transparency and accountability from their governments,â Conservative Aborginal Affairs Minister Bernard Valcourt stated…the law applies âthe same principles of transparency and accountability to First Nations governments that already exist for other governments in Canada,â he added…
The Conservative government adopted this very sensible law in 2013 requiring First Nations to publicly post detailed financial statements, including information on chief and band council salaries…the federal Liberals and NDP have both come out against that law…
Stop Thinking About Gold Only In U.S. Dollar Terms
Below is an updated chart from John showing how Gold is in a bull market in Canadian dollars, which has really been to a boon to Canadian-only producers though many investors have yet to grasp this fact…
Columbia is another great example of the benefits to mining companies of a depreciating currency against the U.S. dollar…Colombiaâs largest Gold producer is fetching near-record high prices for its output thanks to its sinking local currency (Colombiaâs peso has lost 39% in the past year amid slumping prices of coal and Oil, the countryâs main exports)…thatâs shielding Mineros SA from bullion declines that are forcing cutbacks at other mining companies…Mineros shares have jumped 30% in the past 3 months while a peer group tracked by Bloomberg fell 18%…the Colombian peso is down 18% against the dollar in the same span, the worst performance among major Latin American currencies…
In Canada, if you think the loonie is low now, just wait until the NDP potentially sweeps into power…
Gold in Canadian Dollars
Gold is close to really breaking out above Fib. resistance at $1,514 CDN (it closed at $1,504 CDN yesterday) as you can see on this 2.5-year weekly chart…bullion has surged 17.3% in Canadian dollar terms since late last year…combined with low Oil prices, this is a major boost for Canadian producers, and 1 of them we like the most is Richmont Mines (RIC, TSX) which has turned into an earnings machine…
Gold-Crude Oil Comparative
Below is a 10-year Gold chart (U.S. dollars) relative to WTIC…what it shows is a major breakout by Gold, relative to Oil, above a multi-year downsloping channel that developed in 2009…what this presages, in our view, is not necessarily even lower Oil prices but a move higher in bullion over the next several months…the naysayers who are predicting Gold’s collapse have got it wrong…
Today’s Equity Markets
Asia
Thank goodness, we have a break from the circus…China’s Shanghai Composite is closed until Monday as the country commemorates the end of World War II…actions by Chinese authorities with regard to the recent economic and market difficulties there have been about as bizarre as their rules pertaining to their big military parade which was held today…the New York Times reports that Beijing was so determined to make a success of the parade that it issued a raft of rules to maintain decorum: no peeking from windows, no gawking from sidewalks, no cooking on gas stoves, no scissors allowed in offices (what’s that about?)…and, it says, specially trained monkeys have been let loose to scale trees on the route and dismantle birds’ nests, to ensure thereâs no pooping on the tanks…or on Communist Party leaders too, presumably…
Japan’s Nikkei was up slightly overnight…
Europe
European markets were up strongly today as the ECB hinted that its asset-purchase program (QE) would be increased if needed – rest assured, they will throw just about everything into the mix including the kitchen sink in an effort to kick-start inflation and give the economy a further boost…QE has proven to be an effective drug for the stock market (the U.S. is the best example) but hasn’t yet proven to generate meaningful benefits on the inflation front…
ECB President Mario Draghi has buoyed markets desperate for more central bank aid, signaling this morning the ECB stands ready to extend the âsize, composition and durationâ of its âŹ1.1tn bond buying program…
Meanwhile, euro zone business activity accelerated at its fastest pace in more than 4 years last month as Italy turned in its best performance since early 2011 and German growth strengthened, surveys showed today…but while those upbeat surveys provided some welcome news for the ECB, which is struggling to boost the economy and inflation, they still only point to modest Q3 GDP growth…
North America
The Dow has jumped another 165 points as of 8:15 am Pacific…in Toronto, the TSX has surged 116 points while the Venture has added 5 more points to 555…tomorrow will be a key day in the markets with the U.S. jobs report…
Garibaldi Resources Corp. (GGI, TSX-V) Update
BMR Pro subscribers will be receiving a special update with a subscriber-only post over the weekend regarding Garibaldi Resources (GGI, TSX-V) and the Sheslay district in general as activity gets set to heat up there…
Below is John’s latest GGI chart (2.5-year weekly)…this is definitely 1 of the most bullish charts we’ve found on the Venture, given the breakouts above the price and RSI(14) downtrend lines, the increasing buy pressure (CMF), the peak that occurred in the bearish trend (ADX indicator), and the 50-day moving average (SMA) which is just now beginning to reverse to the upside…previous reversals in the 50-day have been followed by substantial advances in GGI…
GGI is off half a penny at 7.5 cents as of 8:15 am Pacific…
Amarc Resources (AHR, TSX-V) Options IKE To Thomspon Creek
Amarc Resources (AHR, TSX-V) has bought in some bigger guns to attack its promising IKE Cu-Mo-Ag Porphyry Project in south central British Columbia…Amarc has struck an option agreement with Thompson Creek Metals (TCM, TSX) which allows Thompson to earn an initial 30% interest in the project under a stage 1 option by financing $3 million of exploration expenditures on the property this year, and a total of $15 million before December 31, 2019…significantly, Amarc will remain as operator during stage 1…Thompson Creek has an option, after acquiring its initial 30% interest, to acquire an additional 20% of the project, subject to certain conditions, including the completion of a feasibility study…
Robert Dickinson, chairman of Amarc: “HDI (Hunter Dickinson) companies have a long history of discovering and developing Copper porphyry deposits in B.C. that have gone on to generate decades of wealth and opportunity for British Columbians. Thompson Creek’s Mount Milligan mine northwest of Prince George, for example, is a Copper-Gold porphyry that our group drilled and discovered years ago. We’re delighted that today, under Thompson Creek’s committed leadership, it is generating high-value jobs and economic benefits for British Columbians, and we are excited to be joining forces with Thompson Creek at IKE, a property we believe has the potential to become a company maker in the years ahead.”
Nine discovery drill holes by Amarc, announced late last year, intersected chalcopyrite and molybdenite mineralization from surface and over a broad area, measuring 1,200 meters east-west by 600 m north-south and to a depth of approximately 500 m…mineralization at IKE remains open in all lateral directions and to depth…the discovery holes and post-drilling geological, geochemical and geophysical surveys completed outwards from the drilled area indicate that the IKE porphyry system has the potential for important-scale resource volumes…
AHR is up 1.5 cents at 10 cents as of 8:15 am Pacific…
Brazil Resources Inc. (BRI, TSX.V)
An “awareness” chart this morning from John regarding Brazil Resources (BRI, TSX-V) which readers should put on their radar screens as we believe this one may have bottomed…
Based on BRI’s current technical posture, what we expect to see is a major breakout above the downtrend line before year-end…fundamentally, the company is in a healthy financial position with the ability to raise additional capital…it has several million ounces of Gold resources in Brazil, and has recently made some interesting acquisitions in Canada…we’ll have more on BRI in the near future…as always, perform your own due diligence…
BRI is off a penny at 53 cents as of 8:15 am Pacific…
Mezzi Holdings Inc. (MIZ, TSX-V) Update
Mezzi Holdings (MZI, TSX-V) announced yesterday that it has arranged a non-brokered private placement offering at 15 cents for gross proceeds of $700,000…the company says the non-brokered private placement is fully subscribed with the majority being taken by insiders, long-term, existing shareholders and cornerstone institutional investors…
Technically, a rally appears to be brewing here…strong base support has held at 14 cents, and note the breakout above the downtrend line in June…
MZI is unchanged at 15 cents as of 8:15 am Pacific…
Note:Â John and Jon both hold share positions in GGI.
Chad Day is right….no drilling this summer !
Comment by Guy Delisle — September 3, 2015 @ 7:38 am
Guy, Chad made a major political miscalculation which unfortunately for the Tahltan has hurt their position with the B.C. government…we have more on that in the days ahead…GGI crews are on the ground…September will start to shine again for the Sheslay district IMHO.
Comment by Jon - BMR — September 3, 2015 @ 7:45 am
Jon do you think Dbv can get on the ground next week and start drilling?
Comment by Sam — September 3, 2015 @ 7:48 am
I hope you’re right Jon !
Comment by Guy Delisle — September 3, 2015 @ 7:48 am
I don’t think the BC government is very active in this matter otherwise Farshad wouldn’t be in the position that he is in right now …..he needs help with this issue and seems like he isn’t getting the support from the people that can help him. BC government supports mining but is scared to stand up against the First Nations imo. My opinion of BC as a mining friendly province is changing.
Comment by D4 — September 3, 2015 @ 7:53 am
Sam- unfortunately no it won’t happened that quickly…..maybe by the end of Sept if we are lucky. Farshad still has a big step to accomplish first and this one takes weeks….assuming he get through it quickly and with assistance.
Comment by D4 — September 3, 2015 @ 7:55 am
Sam, I’m really hoping (and expecting) that we’ll hear from DBV next week…I would be very surprised if we don’t…it’s getting on to 2 months now…let’s wait until we hear what they say, and then we’ll all have a better idea on exact timing of things…GGI is going hard on the ground right now, that can only be good for everyone…
Comment by Jon - BMR — September 3, 2015 @ 7:56 am
Nobody is able to talk with the government about Sheslay !
Comment by Guy Delisle — September 3, 2015 @ 8:22 am
That’s not true, Guy.
Comment by Jon - BMR — September 3, 2015 @ 8:23 am
I hope the BC government is involved, standing up for what is right before BC turns into Indonesia
Comment by Sam — September 3, 2015 @ 8:27 am
I read somewhere that GGI is far enough south of DBV to where they can drill and are not in that indian territory. Don’t know how true it is though. So it is possible for GGI to drill and DBV to still be blockaded. I feel for ya guys in DBV.
Comment by dave — September 3, 2015 @ 8:36 am
Dave, what you’ve heard there is actually not correct either. I suspect a lot of this misinformation that has spread around will be put to rest very soon.
Comment by Jon - BMR — September 3, 2015 @ 8:41 am
Jon did you speak with a representative of government ?
Comment by Guy Delisle — September 3, 2015 @ 8:43 am
Guy, yes I have (more than 1).
Comment by Jon - BMR — September 3, 2015 @ 8:49 am
Thanks Jon
Comment by Guy Delisle — September 3, 2015 @ 8:50 am
Jon, fair enough. Lets hope not.
Comment by dave — September 3, 2015 @ 8:58 am
Dave check July 25 on BMR you have the map of the Sheslay districk this is all Tahltan territory !
Comment by Guy Delisle — September 3, 2015 @ 9:18 am
Hi Sam I was a big investor in Indonesian mining stocks but after one disaster to other I sold at a big lose the only one I still have is FCX as I work for them.
I switched to Canadian stocks and my biggest holding is DBV and look what happens. Can the same happen to GGI once they full up a great result will Mr. Day do the same as to DBV put up a blockade.
The other thing that bothers me, is some one big behind Mr Day with big promises. DBV is a world class project the last Km step out from hole 23 proved that and some one with big money wants it to make billions.Forces are at play to discredit Farshad the CEO that has worked his butt off to get us were we are on a sell of oil rage.
I don’t think that the Government has been all that productive in solving this case.Mr Day is just like any other Terrorist holding a company to ransom.
Canada wake up!
Eddie
Comment by Eddie — September 3, 2015 @ 9:19 am
Guy, the Tahltan are CLAIMING this as their territory…no one is questioning they have interests there…however, keep in mind, the Taku also lay claim to the area, and in fact the signed Land Use Agreement between the Taku and the provincial government covers virtually the entire Sheslay district…that is the LAW OF THE LAND, we have all heard the Premier’s comments regarding that…significantly, the Taku have a federal comprehensive claim over the district…they are in Stage 4 of the Treaty Process…the Taku have not objected to the companies’ exploration work in the Sheslay district…IMHO, and based on some extensive research, Chad Day’s power-game and antics regarding the Sheslay district has damaged the Tahltan brand with the provincial government…
Comment by Jon - BMR — September 3, 2015 @ 9:30 am
Unfortunately the LAW OF THE LAND means nothing if there isn’t any agency to enforces it…..so far Chris Day is still winning and the law of the land has been useless now for 2 months. For over 2 months the BC government has allowed this to continue thus causing further damage to DBV and its shareholders. If its the law of the land it and the BC government enforced it this would have been solved a very long time ago. Yes, some will say its a complex matter but if its the law of the land the decision and action to take is quick and easy. Right? This tells me that the BC government is turning its back to the issue and not being pro-active in it.
In Indonesia they have mining laws but the government agencies are corrupt and not following them hence the chaos there to get mining permits, etc. The mining laws are useless there unless one is a major mining company that pulls a lot of weight and can get things worked out according to the laws.
Comment by D4 — September 3, 2015 @ 9:41 am
I still say Teck is involved with this Talhtan Blockade…. conspiracy theory… DBV does not have the money for this to drag out for months and months, Teck swoops in and buys them out cheap… food for thought..
Comment by Greg — September 3, 2015 @ 9:41 am
Might be right Greg, but whatever the case is, they better do something fast, cause EQT stands a great chance of swarming past them in a national limelight.
Comment by dave — September 3, 2015 @ 9:43 am
D4, over the past couple of months, I believe there have been a lot of efforts by all parties to find common ground. Has not been a case of the government simply “allowing this to continue.” The fruits of that labor have already shown up with GGI on the ground at the moment, and DBV closer to that point.
Comment by Jon - BMR — September 3, 2015 @ 9:44 am
Imo,the BC gov’t will want to settle any arguments with ALL bands in this story,or else the whole thing ends up in court and could take years to resolve.
Comment by jim niles — September 3, 2015 @ 9:48 am
In this case then its not the law of the land like we hope it is.
Comment by D4 — September 3, 2015 @ 9:51 am
All I know is that Chris Day isn’t backing down and negotiations haven’t been fruitful…..I don’t think they will find a solution that suits all players.
Comment by D4 — September 3, 2015 @ 9:53 am
Greg- I have also heard this theory….that someone big is behind all this because they want the HAT. I heard that it could be Teck as well.
I invested in a company in Indonesia where this happened. A group wanted the company’s property and they ended up driving the company out of the country do to many road blocks it threw at it……their rigs got burned, local government rep wasn’t collaborating and not giving mining permit, etc, etc. A powerful group with money can easily do this and the small explorer will unfortunately eventually give up as they don’t have the resources to fight very long.
Comment by D4 — September 3, 2015 @ 9:53 am
MQ.C. That is all đ
Comment by BigRig — September 3, 2015 @ 9:55 am
My guess is that they extended the warrants because they knew that the issue would take a while to resolve.
Comment by Bill — September 3, 2015 @ 10:00 am
news just out
The Tahltan Nation Development Corporation (TNDC), the business arm of the Tahltan Nation, has invested in Imperial Metals Corporation, the company that owns the Red Chris mine in Tahltan territory. The investment is part of a round of âconvertible debentureâ financing announced by Imperial Metals on August 24 to maintain and grow the business and advances TNDCâs strategic growth plans to diversify its revenue streams.
âWhen our Nation shows support for a project, we want it to be a true partnership. This investment backs up the promises made in our co-management agreement with Red Chris and Imperials Metals. It means we are directly involved in a major project that affects our economy and the day-to-day lives of so many Tahltan people,â said Chad Day, president of the Tahltan Central Government.
a blueprint
Comment by ChartTrader — September 3, 2015 @ 10:26 am
Let’s hope Jon and his sources are right and we get some positive news from farshad next week
Comment by Sam — September 3, 2015 @ 10:32 am
Pure Energy continuing to make new highs. 58 cents, definitely my lithium pick for future contracts and possible takeover
Comment by Roger — September 3, 2015 @ 11:01 am
Looking good, Roger. John will update the chart tomorrow.
Comment by Jon - BMR — September 3, 2015 @ 11:04 am
The Sheslay district is all about the money and the Chief is trying to get as much as he can.
Comment by Les — September 3, 2015 @ 11:10 am
We will see soon enough if the BC government has any balls and backs DBV or if they are afraid to ruffle the Chief’s feathers in which case this will go on a lot longer than anyone can imagine. This brings to question what Greg and others have suggested, that someone very big would like to see DBV go broke in this process so DBV can be taken over for peanuts. Just look a what happened with Red Chris.
Comment by Les — September 3, 2015 @ 11:19 am
PE is going to do good.
Comment by dave — September 3, 2015 @ 11:33 am
Dave – PE is smokin’ hot. Last at .59, up .06 (high of .60) on 331,500 shares. I’ve liked Lithium for a while,(kudos to tony roma) long time coming. Enjoying the ride.
Comment by vepper — September 3, 2015 @ 11:46 am
Roger and Vepper – PE probably makes new high tomorrow before cooling down some. But as I said a few days ago, EQT stills doubles before PE.
Price at the time I said this:
PE – .53
EQT – .12
Comment by dave — September 3, 2015 @ 11:47 am
EQT pp was also supposed to be closed on monday and here we are thursday and nothing yet….
Comment by tony T — September 3, 2015 @ 11:54 am
Dave – hard not to keep an eye on EQT, I’m pull’n for you guys. You’ve got to have a dream and I hope it plays out the way you say….. There will be sure to be some twists and turns along the way, always is. But I’ve been in PE since Dec. 2012 with 15 entry points, my average is in the .19 cent area. With what’s developing on this story and Elon Musk’s comments in todays Benchmark article. I’m all in with PE and will be happy with the % gain at the exit points I choose. Maybe leak some out in Oct. is my initial thought.
http://benchmarkminerals.com/blog/teslas-elon-musk-more-gigafactory-lithium-deals-to-come-potentially-nevada/
Comment by vepper — September 3, 2015 @ 12:25 pm
Dave- oh, I agree as well. Own both but EQT looks like it’s ready to go next week. Finished adding to my position yesterday at.12 cents ( kinda surprised to still get some at that price) and just gonna sit back and enjoy the next couple weeks
Comment by Roger — September 3, 2015 @ 12:30 pm
Dave when you wroe in August EQT stills doubles before PE.
PE is around 35-40 not .53
Comment by Guy Delisle — September 3, 2015 @ 12:49 pm
OK. So tomorrow maybe the last day to pick up shares of EQT if drilling starts next week. No chance to get in until Tuesday after the close tomorrow and then the share price may be a lot higher. I think it will be some crazy trading tomorrow sometime before the close. If the PP is announced before the opening then it wi be one heck of a day.
Comment by Dan — September 3, 2015 @ 2:04 pm
Dave ,Guy – if price was .35, .40 or .53 no problem. Share price on PE could double easily from todays high of .60 on the announcement of one lithium supply agreement.
Comment by vepper — September 3, 2015 @ 2:24 pm
My tough is that GGI found some nice grab number in the east extention of Pyrrhotite creek South of the PGX border. This is the only way they could generate some exitement at the moment. La Patilla does not have great potential in my opinion, Roradero as! Wonder why they stop drilling there in the first place! Also i have red the minfile of wolverine not to sure about this area (armac sayd ”unlikely to hold copper porphyry deposit potential. What do you think Jon?
Last think i don’t like the silent surrounding the sheslay area! What hold DBV from at least releasing result from hat23!!!
Comment by Martin — September 3, 2015 @ 2:29 pm
Guy – PE was at .53 closing price that day, I wrote it down.
Tony t – Nobody or no one can pick an exact day on any closing of any PP. They are guesses when given. In this event, the dynamics of the PP have changed causing the delay, it is for the betterment of the company and shareholders. Regardless, very shortly, you will look back in time at last Monday or today and say who cares.
Comment by dave — September 3, 2015 @ 3:24 pm
Oh Guy, one more thing. The closing price can’t be around 35 to 40. Closing price is that big highlighted number to the right of the chart that says “close”.
Comment by dave — September 3, 2015 @ 3:26 pm
Who knows anything about the insider selling in EQT???
Comment by Patricia — September 3, 2015 @ 3:28 pm
Maybe GGI has worse territorial problems In Mexico than it does in BC. Mexico has far more law of the land problems than Canada not to mention drug lords. Lots of reasons for GGI to concentrate on BC.
Comment by Les — September 3, 2015 @ 3:28 pm
vepper – just read article on PE, very interesting. Thank you. I own both PE and EQT. Having fun with both. I don’t care which one doubles first, I win either way. Lets hope they both do well.
Comment by dave — September 3, 2015 @ 3:40 pm
Dave, you said they were whopping it up in Goose Bay last Friday like they won the lottery. Must be something very big that they have discovered on their property. Either the UTEM3 results are off the charts, or they have nickel rock in their hands. I don’t know of any other analyzer besides the XRF. I googled the Sh&t out of it last night looking for a better device but couldn’t find anything. Didn’t read “The Big Score” yet but am aware of it. I know one thing, I may not get any sleep tonight, or this weekend if they don’t soon release what it is.
Comment by Dan — September 3, 2015 @ 4:42 pm
Hi Patricia, presumably the insider selling is because the insiders are using the proceeds to take part in the current Private Placement which will hopefully close soon and then any insider selling will likely stop. The best source of information for who exactly has been selling is sedi.ca
The stock is heavily owned by insiders which is a good thing.
Comment by Danny — September 3, 2015 @ 4:53 pm
Patricia – In some cases it is a positive thing. In this case it is positive. It allows the people within to invest in the company that they believe in and allows the CEO to remain in total control. Although it creates a delay, Hardy made the correct move on the chess board. This is one very smart CEO.
Comment by dave — September 3, 2015 @ 5:16 pm
Dan – take it easy brother, don’t worry about their dynamics on the ground. Get some sleep, keep it in stride. Count your money down the road, whether its a double or multiple doubles , its not sitting at .11 to .13 much longer, that’s a given. Get some sleep.
Comment by dave — September 3, 2015 @ 5:23 pm
If the PP does not close tomorrow, its not the end of the world. Don’t let it ruin your long weekend, rather, be excited for next week.
Comment by dave — September 3, 2015 @ 5:25 pm
I am excited for next week. Locked and loaded!!
Comment by Dan — September 3, 2015 @ 5:36 pm
Ok, I suspected this as I was watching the action with times of day and the lower volume, albeit still over a million. There was no insider sells today. Now its just a matter of transfer the funds and sign the papers. We are close to fun.
Comment by dave — September 3, 2015 @ 5:48 pm
wow… this feels exciting… EQT seems like the real deal.. you guys are good… I’m still concerned at the insider selling tho… I am not a sophisticated investor so relying on the people in the know… if the future is so bright why would they sell the shares that they own? just get more?
any help is helpful..
Comment by Patricia — September 3, 2015 @ 5:58 pm
so just checked the insider report … sorry not to tech savvy right click is priceless . maybe they needed a car??:) doesn’t seem that it means much since it is a low number..??
Sep 2/15
Bellefleur, Jody
Direct Ownership
Public market sale
Common Shares
0.125
-100,000
-100.0%
0
Aug 29/15
Zimtu Capital Corp.
Direct Ownership
Public market sale
Common Shares
0.115
-160,000
-1.5%
10,213,501
Aug 5/15
Petryshen, Frances
Direct Ownership
Public market sale
Common Shares
0.100
-100,000
-100.0%
0
Jul 15/15
Hardy, Samuel Kyler
Indirect Ownership
Private buy
Warrants
0.150
1,176,470
> 100%
1,176,470
Jul 15/15
Hardy, Samuel Kyler
Indirect Ownership
Private buy
Common Shares
0.085
1,176,470
62.2%
3,066,469
Jul 15/15
Makela, Everett
Indirect Ownership
Private buy
Warrants
0.150
300,000
> 100%
300,000
Comment by Patricia — September 3, 2015 @ 6:05 pm
I also checked TMX Money today, no insider sells plus very heavy on the bid at .125 at the close so hopefully the insiders are done. It looks like a positive open tomorrow.
Comment by Danny — September 3, 2015 @ 6:10 pm
Patricia – If the insiders sell at .12 or .13, they buy the PP at .10. They make a 20% profit and get to keep the warrant. It’s a win win for everybody. The company gets the money from their own people inside and they can’t sell for 4 months, no matter how high EQT share price goes up, or if they fail. They are forced to hold their shares and can’t cause a massive sell off so to speak. Keep in mind that insiders hold over 50% of the company. There are only around 15 million shares available for everybody outside the company to trade. This makes for a very explosive situation should EQT hit.
Now – as for no insider sells today, and the TA: here it is:
The RSI turned up
The 20sma is at .125
Macd did kind of a funky “w”
My favorite, take a look at the ACCT/DIST. line. YUMMY
Tomorrow could be your last chance at .12 or .125 to enter.
I am exhausted – Good night.
Comment by dave — September 3, 2015 @ 6:33 pm
Patricia – one more thing. This stock is not staying at .13, you can take that to the bank and deposit it. I don’t have a crystal ball with a genie, but I would not be surprised to see this in the 30’s come end of September/beginning of October. If they don’t hit you have plenty of time to get out without a loss, if they do hit, 4 months from now Santa Clause won’t be able to get down your chimney cause his bags will be blown up with so much money.
To everybody, remember it’s rare to hit big on the first hole, so be ready. Target B I am guessing (we wont know till its announced which hole is going first) if they go in order is the second hole. Voisey Bay hit on the second hole if I remember correctly.
remember: Target A – 800 siemens
Target B – 10,000 siemens
GLTA
Comment by dave — September 3, 2015 @ 6:50 pm
hx Dave and Danny … and yep me too .. but I’m on the east coast so I am really late:) still hoping .. whats with that ‘W’ anyway.. have seen it in the past week’s research as such.. not sure what that is.. but seems it is important./. good night!!
Comment by Patricia — September 3, 2015 @ 7:01 pm
MQ.C had a great day. I expect this to run nicely from here. Danny Deadlock has also picked MQ.C up and alerted his subscribers. Take a look. Cheers BigRig.
Comment by BigRig — September 3, 2015 @ 8:00 pm
Yep,all indicators turning up.It just has to be released from this range for the PP.If the PP selling is done it will creep up until the PP being closed is announced,then it should jump on the property work PR that comes out after that.
At that point,I expect any developments on the property to be released through Twitter,E-mails,or if impactful,a PR.
If communication is constant with the company insiders or IR,rumours and little bits of news on happenings on the property will help to drive the stock price.
Promotion to investors will be key at this point.
Next important phrase needs to be ‘MASSIVE SULPHIDES’.If done right,we could see .30-.40 while the drill is turning.Of course,there has to be something to pump.Just putting a drill in the ground won’t do it.There were rumours a few days ago.Now we see if we get some info on that.
Comment by jim niles — September 3, 2015 @ 8:08 pm
Patricia,insiders aren’t selling just to get out while the getting is good.They are the ones filling the PP,and selling previously held shares is how they do it.Shares they might have gotten free or in the .01-02-05 range,are in big profit on,and will double their shares on( assuming they someday cash the warrants)at a discount to the selling price.
In this environment,most junior miners have to do it this way.
The CEO for DBV had to do it this way and he then drove his shares from .06 to almost .40!We are trading at volumes that were only seen in two weeks for DBV during its huge run,and that we see constantly each week while being held down.
If we get any news on massive sulphides,that alone will trigger this over .50.
Comment by jim niles — September 3, 2015 @ 8:32 pm
For the 2002 drill program done at South Voisey Bay by Donner,UC Resources,which owned 5% of the project and which now trades at .03,traded up from mere pennies to $6.50 and Cypress Development,which owned 11% of the project and which now trades at .035,traded up from $1.00 to $6.50 as well.
This shows the potential attraction this area holds.Doesn’t mean we’ll see $6.50,but we won’t be sitting at .13 for long.
Comment by jim niles — September 3, 2015 @ 8:40 pm
Jon and BMR. I thought you were going to gradually reduce the access to your site and comments? Expected by end of September. I was surprised to see everything turned off this morning with no access to your musings or comments. Disappointed.
Comment by Dan — September 4, 2015 @ 3:40 am
Hi Dan, we’re doing exactly what we said we were going to do (content that is currently free on BMR will be progressively closed up to Sept. 30 and available only through a subscription), and we already have a significant number of subscribers who have paid for this service. Morning Musings is available for everyone today. It’s just that as we go through the entire month of September, slowly but gradually, material will be closed to subscribers only.
Comment by Jon - BMR — September 4, 2015 @ 4:39 am
Glad to hear that a significant amount of people have subscribed as my opinion was that it was too early to make the transition from free to paid site so I was wrong. Since BMR is the only one covering the Sheslay Valley and the most knowledgeable on it, I will join everyone here once the fireworks begin as the region is still “dead money” and there is still a major obstacles to over come.
Comment by D4 — September 4, 2015 @ 5:14 am
Regarding subscription: I will just state the obvious. knowledge is power. I’ve been following BMR since many years now, and I decided to get the Pro service, give it a shot. We are always responsible for our own due diligence, but time is money, and I am glad that BMR can save me a lot of time with its research. One reasonable quick flip trade and the subscription is paid for the year…
I remain.
Comment by rgiroux — September 4, 2015 @ 6:07 am
I’m in too, this my favorite site so I can’t let it go. Too bad the Sheslay has to deal with Chad Day, otherwise things would be different.
Thanks to everyone
Comment by Jas — September 4, 2015 @ 6:31 am
Well Jon, I took the plunge and joined.
Comment by Dan1 — September 4, 2015 @ 6:42 am
You won’t regret it, Dan. We have lots in store that will further enhance the site and services over the coming months.
Encouraging action on the Venture this morning, given how it’s holding up well in the face of weakness on the broader equity markets and commodities. Key level remains the 20-day SMA.
Pure Energy continues to march higher toward Fib. resistance in the mid-70’s.
Comment by Jon - BMR — September 4, 2015 @ 6:52 am
Not that I comment a lot as you well know, but does the basic come with that?
Comment by Tombc — September 4, 2015 @ 6:59 am
Jon- in what way will the site/services be different once it transitions to a paid site? Thanks
Comment by D4 — September 4, 2015 @ 7:07 am
Tom,
Re your post 75, I can answer as I already asked that question. For basic you will be able to access the morning Musings and teh morning musings comments. The Pro and Gold subscribers will be able to access all content, (morning musings plus seperate posts)including the corresponding comments.
Comment by Jamie — September 4, 2015 @ 7:16 am
Hi D4, the simple, easy-to-navigate layout of the site and the general focus of the site will remain intact, but I will elaborate on your question later today or tomorrow when time permits. The audio clip on the subscription page gets into the broader picture somewhat.
Comment by Jon - BMR — September 4, 2015 @ 7:16 am
I didn’t want to do it but I traded some GGI shares this morning for more EQT. Still have a basket full of GGI shares, but I think EQT goes up first and higher.
Comment by Dan1 — September 4, 2015 @ 7:20 am
Thx,I’ll take that as yes, reading comments can be valuable.
Comment by Tombc — September 4, 2015 @ 7:27 am
Hey guys, still deciding whether to subscribe or not – Dave are you gonna be a subscriber? (I also appreciate your comments)
I’m watching EQT and PE very closely, and am invested in both. So far, PE is kicking EQT’s butt!! I was really hoping that they both wouldn’t spike at the same time, but I’m afraid they might (next week).
Has anyone heard anything from camp DBV? My plan is to still take profits from EQT and buy more DBV later this month, hopefully at these levels – thought?
Cheers all
Comment by Paul — September 4, 2015 @ 8:02 am
EQT- bids building again but will probably get squashed again…..at some point these games will end and it will finally move!
Comment by D4 — September 4, 2015 @ 8:04 am
EQT- are they letting it loose before the PP closes? Looks like its gearing up to move….
Comment by D4 — September 4, 2015 @ 8:17 am
IMHO how can anyone that’s been reading this free site for the past however many years not become a subscriber. While one reasonable trade will easily cover a subscription, let’s not forget about the money and experience many have ALREADY GAINED from Jon and John’s hard work and dedication,and just as valuable the great posts from Dave, Jim Niles, Big Rig and others, combined with some TA.
See you on the other side.
Comment by Wayne — September 4, 2015 @ 8:48 am